The state government of Lagos has urged citizens to report agents or landlords who are requesting more than a year’s worth of rent.
Barakat Bakare, special adviser on housing for the Lagos State Real Estate Regulatory Authority (LASRERA), gave people reassurance on Thursday that the government led by Babajide Sanwo-Olu is striving to reduce abuses by developers, brokers, and landlords in the state.
As a frequent point of conflict between landlords and tenants, Bakare pointed out that the state’s tenancy law is presently being reviewed to fill in any gaps in the regulation of caution costs.
“One month’s rent is the bare minimum you can get. Bakare stated, “You can collect quarterly, every three months, or annually, but no more than a year.”
“We can report the landlord to the Lagos State Real Estate Regulatory Authority at Block 21, First Floor in Alausa, if we discover that they are attempting to collect after more than a year.”
She mentioned that in order to encourage reasonable prices and appropriate development, the state government is negotiating with developers, property organizations, and landlords.
Before engaging in any real estate transaction, she advised Lagos citizens to confirm the LASRERA registration status of any developer or agency.
“It’s difficult right now. We are not here to make Lagosians’ lives more difficult. We are negotiating with landlords, seeking a compromise, and making every effort to improve the accessibility and humaneness of housing,” Bakare continued.
“The duties of attorneys and agents in real estate transactions are obviously different.”
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